Hi Everyone,
Related to the topic of New-Wage Code 2019 implementation, I have a few questions:
a. With 50% being set up as the Basic for EPF compliance, is the ₹ 15,000/- limit still relevant?
b. What about the EPF contribution for those employees who had a higher basic, and both the employee and the employer were making EPF contributions based on the higher basic?
These points need to be clarified.
From India, Pune
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4Related to the topic of New-Wage Code 2019 implementation, I have a few questions:
a. With 50% being set up as the Basic for EPF compliance, is the ₹ 15,000/- limit still relevant?
b. What about the EPF contribution for those employees who had a higher basic, and both the employee and the employer were making EPF contributions based on the higher basic?
These points need to be clarified.
From India, Pune
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Hi Mr. Ranjeet Wrt your query (a), it is being heard that Govt. , may increase the limit to 21000 or 25000 and its(limit) relevance is yet to be clarified. Regards Puran Dangwal
From India, New Delhi
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From India, New Delhi
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Dear Ranjeet,
With 50% being set up as the basic for EPF compliance, is the ₹15000/- limit still relevant? - Yes, it is still relevant.
What about the EPF contribution for those employees who were having a higher basic, and the employee as well as the employer were making EPF contribution on the higher basic? - Their PF needs to be calculated as per the new ruling only.
Thank you.
From India, New Delhi
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With 50% being set up as the basic for EPF compliance, is the ₹15000/- limit still relevant? - Yes, it is still relevant.
What about the EPF contribution for those employees who were having a higher basic, and the employee as well as the employer were making EPF contribution on the higher basic? - Their PF needs to be calculated as per the new ruling only.
Thank you.
From India, New Delhi
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Wage Code Bill - Summary.docx
Kannada Wage Code 2019.pdf